TY - JOUR
AU - Cerutti,Eugenio
AU - Claessens,Stijn
AU - McGuire,Patrick
TI - Systemic Risks in Global Banking: What Available Data can tell us and What More Data are Needed?
JF - National Bureau of Economic Research Working Paper Series
VL - No. 18531
PY - 2012
Y2 - November 2012
DO - 10.3386/w18531
UR - http://www.nber.org/papers/w18531
L1 - http://www.nber.org/papers/w18531.pdf
N1 - Author contact info:
Eugenio M. Cerutti
Research Department
International Monetary Fund
700 19th Street N.W.
Washington, DC 20431
E-Mail: Ecerutti@imf.org
Stijn Claessens
Division of International Finance
Federal Reserve Board
20^th Street and Constitution Avenue
Washington, D.C. 20551
Tel: 202 452-2089
E-Mail: stijn.claessens@frb.gov
Patrick McGuire
Bank for International Settlements
Basel, Switzerland 4051
E-Mail: patrick.mcguire@bis.org
M1 - published as Eugenio Cerutti, Stijn Claessens, Patrick McGuire. "Systemic Risks in Global Banking: What Available Data Can Tell Us and What More Data Are Needed? ," in Markus K. Brunnermeier and Arvind Krishnamurthy, editors, "Risk Topography: Systemic Risk and Macro Modeling" University of Chicago Press (2014)
M3 - presented at "Systemic Risk and Macro Modeling", April 28, 2011
AB - The recent financial crisis has shown how interconnected the financial world has become. Shocks in one location or asset class can have a sizable impact on the stability of institutions and markets around the world. But systemic risk analysis is severely hampered by the lack of consistent data that capture the international dimensions of finance. While currently available data can be used more effectively, supervisors and other agencies need more and better data to construct even rudimentary measures of risks in the international financial system. Similarly, market participants need better information on aggregate positions and linkages to appropriately monitor and price risks. Ongoing initiatives that will help in closing data gaps include the G20 Data Gaps Initiative, which recommends the collection of consistent bank-level data for joint analyses and enhancements to existing sets of aggregate statistics, and the enhancement to the BIS international banking statistics.
ER -